Dear Investors
I'm currently monitoring price action on the H1 Timeframe for this pair and I have Identified a potential Head and Shoulder pattern
A Head and shoulder Pattern is a bearish price action, however it could easily turn into a bullish continuation Pattern because anything can happen
The neckline of this structure is a key level which mostly determines the resulting direction of price
Therefore, I am currently looking at 2 possible scenarios from here
1. If price fails to break below this neckline structure, then we could see a bullish reversal
2. If price breaks below this neckline structure, then we could see a bearish continuation
However, anything can happen, so let's stay patent and Execute based on your confirmation 👍
I'll be posting updates soon.
I'm currently monitoring price action on the H1 Timeframe for this pair and I have Identified a potential Head and Shoulder pattern
A Head and shoulder Pattern is a bearish price action, however it could easily turn into a bullish continuation Pattern because anything can happen
The neckline of this structure is a key level which mostly determines the resulting direction of price
Therefore, I am currently looking at 2 possible scenarios from here
1. If price fails to break below this neckline structure, then we could see a bullish reversal
2. If price breaks below this neckline structure, then we could see a bearish continuation
However, anything can happen, so let's stay patent and Execute based on your confirmation 👍
I'll be posting updates soon.
